Successful Aging Through Financial Empowerment (SAFE): Financial Coaching with Older Adult Victims of Financial Exploitation

ABSTRACT

Financial exploitation (FE) of older adults is a growing public health problem. Current estimates of financial exploitation show between 5% and 11% of older adults are victimized each year. This study examined an empowerment-centered financial coaching intervention. Program records and participant baseline and follow-up assessment data were used to detail program dynamics and investigate participant outcomes. Most SAFE participants were very satisfied or satisfied (91%) with the services they received. Participants also reported significantly less stress at the six-month follow-up. These findings demonstrate that empowerment-centered financial coaching interventions can successfully address FE in older adult populations.

KEYWORDS:

• Financial Exploitation
• Older Adults
• Elder Abuse
• Prevention

Disclosure statement

No potential conflict of interest was reported by the author(s).

Additional information

Funding

The work was supported by the Michigan Health Endowment Fund [G-1607-140174]; the Michigan Center for Urban African American Aging Research National Institutes of Health [R21AG067405]; National Institutes of Health Michigan Alzheimer’s Center Core [P30AG053760].